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CSE:CNIOTC:CLGUF
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Cloud Nine Web3 Technologies is on track to become the Uber of cryptocurrency

Snapshot

The company’s recently-acquired Web 3.0 intellectual property assets are allowing the company to build a better educational technology platform and make cryptocurrency mining and storage easier

Cloud Nine Web3 Technologies Inc -

Quick facts: Cloud Nine Web3 Technologies Inc

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CSE:CNI

Price: 0.35 CAD

Market Cap: $17.97 m
  • Superior Web 3.0 intellectual property assets 
  • Easy to use cryptocurrency mining technology  
  • Newly-launched education technology platform for collaborative learning

What Cloud Nine Web3 Technologies does:

Cloud Nine Web3 Technologies Inc (CSE:CNI) (OTCMKTS:CLGUF), formerly Cloud Nine Education Group Ltd,  is a technology platform company focused on incorporating emerging technologies into its current platforms.

The Vancouver-based company’s mission is to fuel innovation and make the future more accessible by powering the launch and growth of future Web 3.0 technologies focused on decentralization.

When implemented, Web 3.0 is expected to become a decentralized blockchain protocol that will enable individuals to connect to an internet where they can own and be properly compensated for their time and data.   

As well, Cloud Nine’s opportunities and partnerships are strategically positioned to capitalize on the dominance of emerging technologies and the growing need to learn faster and easier from experts in collaboration with key educators and influencers in the marketplace.

Cloud Nine has two Web 3.0 technology initiatives: Limitless Technologies, its cryptocurrencies platform and; Next Decentrum, its educational technology platform.

Limitless provides users with a plug & play way to mine their favourite cryptocurrencies, which are then immediately stored in a personalized in-app digital wallet. The company says all that is needed is a phone and Wi-Fi connection.

Next Decentrum, meanwhile, is building active, evolutionary, and just-in-time educational content and software inspired by the modern theories of continuous innovations, lean thinking, and agile development.

Cloud Nine Web3 Technologies is led by CEO Allan Larmour, an accomplished entrepreneur with more than 25 years of experience in Fortune 500 companies, start-up technology companies, international sales and business development, and executive management. 

How is it doing:

On March 16, 2021, Cloud Nine announced the closing of its acquisition of certain intellectual property assets related to a development-stage Virtual Private Network (VPN) platform bought from Victory Square Technologies Inc. The company paid C$6 million in company stock for the VPN acquisition, while noting that Victory Square has spent about C$3.2 million to develop the platform.

The company said it anticipates incurring a further C$0.5 million in development to advance the platform to the beta testing phase and hopes to offer a finished product on or before the third quarter of 2021.

Earlier in the same month, Cloud Nine announced the launch of its new Education Technology (Ed-Tech) Platform, which it said is part of its long-term strategy to partner with companies and technologies at the crossroads of education and emerging technologies. 

The premiere platform will target the education and stay-at-home sectors with selective learning modules and critical information, adding that it is designed to provide users with easy and simple guides to cybersecurity, wearable technologies, blockchain technology, cryptocurrencies, and decentralized finance (DeFi).

To further the platform’s development, Cloud Nine said it had retained IT specialists Bluzelle Networks for specialized Web 3.0 development services, with the aim of establishing Cloud Nine as a thought leader in the growing Ed-Tech space.

Cloud Nine’s Web 3.0 development initiative is three-pronged:

  • Creating a global assessment platform to provide services for storing and managing degree information: The Web 3.0 ledger is intended to match all kinds of educational information with the user’s unique ID. It is intended to include learning behaviour in class, micro academic project experience and macro educational background
  • Building out a capacity-currency transformation bank: This includes a Web 3.0 learning ledger to record detailed information about users’ learning experiences and follow development of their knowledge and skills. This information can be stored on a Web3 network according to a series of comprehensive standards, and students will gain rewards through their efforts on studies, a process known as “learning is earning”
  • Creating an 'Airbnb for file storage': As learners and education institutions store more data, DLT (distributed ledger technology) cloud storage could offer safer and potentially cheaper alternatives, including ebook and textbook consolidation

In the boardroom, in March 2021, Cloud Nine Web3 Technologies said it hired technology investor and entrepreneur Sefton Fincham to be its new president effective April 1. 

Fincham, founder of Look to the Sky Films and Thirty Six Financial Group, has raised more than $100 million for numerous small-cap companies in industries such as technology, film, blockchain, and cannabis. He called Cloud Nine’s Web 3.0 intellectual property (IP) “game-changing.” 

Inflection points:

  • Rapid adoption of the company’s cryptocurrency mining technology
  • VPN platform launch by 3Q 2021

What the boss says:

Commenting on the company’s VPN platform acquisition from Victory Square Technologies, Cloud Nine Web3 Technologies CEO Allan Larmour said in a statement: “The acquisition of these assets will further position Cloud Nine at the forefront of the Web 3.0 movement, enabling it to deliver additional products and services that make the Web more connected, more open, and more intelligent. ”

Contact Sean at sean@proactiveinvestors.com

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